Income Tax Refund in India: Eligibility and Procedure

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Hiral Vakil

Form 12BB
ITR Refund
Salary Components

A taxpayer becomes eligible for refund when total tax paid (TDS, Advance Tax) by him/her is greater than his/her tax liability for a particular financial year. In the following instances, the taxpayer becomes eligible to claim tax refund:

How to claim Income Tax Refund?

A few basic things to keep in mind if you want to claim a refund.

How to check Income Tax Refund Status?
Step by step guide to check the status of refund.
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How to check Income Tax Refund Status?
Step by step guide to check the status of refund.
Read More

Once you have filed your income tax return, you need to wait for assessment from the Income Tax Department. Here what you need to do:

FAQs

Why am I not getting any refund?

Your may not be getting refund for one of the following reasons:
1. You may not have filed an income tax return for the relevant assessment year
2. Your taxes paid matches your total tax liability for a relevant assessment year
3. You might have forgotten to claim taxes paid on your return
4. You might have furnished incorrect bank account details in your return

Is income tax refund taxable?

No, refund received by a taxpayer is not taxable. But any interest received on the refund is taxable in the year in which refund is received by a taxpayer.

How long does it take to get a tax refund?

Usually, it takes 3 to 6 weeks to receive a refund from the date of filing of a tax return. IT Department is planning on processing refund faster in coming years.

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